The Prime Minister hosted a news conference today at approximately 12:00 noon today. The following are some of the highlights:
Post Cabinet Press Conference: 16 Mar 2020 #1
Dr Keith Rowley, Prime Minister
* Any solution to this will incur pain and inconvenience.
* 75 Citizens are trying to make their way home. Trinidad and Tobago will accept them as is our duty.
* We have to isolate ourselves from the virus outside Trinidad and Tobago.
* Cease to encourage entry of non-nationals into our country unless you are a National of Trinidad and Tobago. This will include “the yachties”and any others by boat, will also not be permitted entry. Exception will be made for essential services such as CAPHRA workers. This will be for 14 days effective 12 midnight 17th March. This has far reaching effects for CAL.
* Heritage and Stabilization Fund will be used. We will have to pass special legislation so the AG’s office can draw down now
* We need to make sure there is food and pharmaceuticals in Trinidad and Tobago
* Committees are being activated.
– Finance Banking and Insurance (Combination of Ministers, Central Bank and Private Business Persons) to report by 10 am Wednesday morning.
– Business and Manufacturing (Ministers listed, Persons to be co-opted)
– Social and Support Job Preservation (Ministers listed, Persons to be co-opted)
* All bars are to remain closed for 14 days. No socialization in this way. All gatherings beyond 25 persons to be avoided.
*Observe space between persons
* Personal hygiene is key
*Additional food cards and school feeding support for those who still need it.
* Schools will remain closed until the April 20 2020, start of Term III. The PM has appealed to Private Schools to also close and have no gatherings.
* Healthcare providers and first responders are key.
* PM said that experts are saying that situation could extend to June and as far as October this year for Trinidad.
* PM applauds current restaurant owners who have taken action and asks for other restaurants to follow suit. He would like to encourage them to conduct curbside or delivery pick up only.
* PM says that Methanex overseas management has temporarily, (he hopes), shut down the Trinidad and Chile plants. This means no revenue expectation by the Minister of Finance for the forseeable future.
Terrence Delyasingh, Minister of Health reported:
*Number of beds available – Arima Hospital will be opened quickly and provide 77 beds, 82 are at Caura, 48 at Couva, 50 beds in NAPA if necessary. Augustus Long Hospital at Petrotrin is also being made ready for use.
*Explained why we do not rush out to do a test right away:
- Too early a test without symptoms, means that the virus has not multiplied enough to give a positive sample and will instead give a false negative. This then will give the individual a false sense that they are clear and allow them to spread to others. Self quarantine and if symptoms do occur, call to be tested. This is how we can conserve the number of tests as well.
* A hotline for the Ministry of Health, will be operational by next week Wednesday or Thursday, persons are being trained and technology is here and ready.
Dr. Trotman, Thoracic Medical Director:
*She has indicated that we still only have 4 cases as of this press conference.
*Three mild cases are doing well and the one critical case has seen consistent improvement over the last few days.
Stuart Young, Minister of National Security
*The Ministry of National Security stands ready to deal with any potential situation.
*Coast Guard and Defence force will focus on preventing illegal entry into Trinidad and Tobago by non-nationals.
* The Tobago Ferry will continue to run, but social distancing approaches will be considered. The number of ferry services may be increased to reduce the number of persons on each sailing. The CAL airbridge will continue as normal, but will be discussed with CAL.
Colm Imbert, Minister of Finance:
* He discussed the oil price collapse and slowdown in economic activity:
- Gas production: 3.6bn std cubic feet 2018, 3.55bn 2019.
- Gas price was budgeted at US$3.00 but receiving actual US$1.70-1.80 per mmbtu in 2020.
- Oil production: 80,000 in 2014 has declined to 50,000 barrels in 2020.
- Oil price collapsed to $43 in 2016, went to $65 in 2018. Now, as of today 2020, a dramatic collapse to $30 per barrel.
- Expenditure – TT$63Bn 2014, then TT$60bn in 2015, TT$53bn in 2016, TT$49Bn 2017, TT$48Bn in 2018.
- Revenue was TT$58.4Bn in 2014, TT$75.2B in 2015, TT$45Bn in 2016, TT$36Bn in 2017, TT$43Bn in 2018, in 2019 TT$46Bn, and projected TT$47.7Bn for 2020.
- The deficit as a result of the decline in oil and gas price is projected to be -$4.5Bn. This figure does not take into account slow down in natural business activity and cost of precautionary measures which may take the final figure well over TT$5Bn.
*The Andean Bank will make a donation to its members of TT$3M in value.
* CAF will provide US$50M to its members which includes Trinidad and Tobago.